PayU Acquiring Indian Fintech Lender PaySense for $185 Million

PayU is a largest payments processor in India and it is continuing its moves into lending in that country with the acquisition of fintech lender PaySense for $185 million; PayU already has a lending arm in India called LazyPay and PaySense will be merged into that business; former LendingClub executive Sid Jajodia, now the Global Head of Credit for PayU, said that cumulatively, the two services have disbursed over $280 million in credit to consumers; he aims to take this to “a couple of billion dollars” in the next five years; both services are primarily consumer lenders but Jajodia said that they may expand into offering credit to small and medium sized businesses. Tech Crunch

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